Parsani
joined 2 years ago
1.2% of adults have 47.8% of the world’s wealth while 53.2% have just 1.1% (lol this adds up to 101%)
Not sure if this was posted yesterday, but an interesting post from Roberts.
And here is a key point worth considering. If you own a property to live in and, after taking out any mortgage debt, you still have over $100,000 in equity and any savings, you are among the wealthiest 10% of all adults in the world. You may find that difficult to believe, but it’s true because most adults in the world have no wealth to speak of at all.
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As for wealth inequality within countries, at year-end 2021, the Gini coefficient (the usual measure of inequality) for wealth was a huge 85.0 in the United States (remember 100 would mean one adult owning all the wealth). Indeed, in the United States, all measures of inequality have trended upward since the early 2000s. For instance, the wealth share of the top 1% of adults rose from 32.9% in 2000 to 35.1% in 2021 in the United States.
What about China? Well, the wealth Gini coefficient rose from 59.5 in 2000 to peak at 71.7 in 2016. Then it eased back to 70.1 by 2021, close to where it was in 2010 and some 20% lower than in the US. Wealth inequality in India was much higher in 2000 and has risen since. The Gini coefficient rose from 74.6 in 2000 to 82.3 at the end of 2021. The wealth share of the top 1% went up from 33.2% in 2000 to 40.6% in 2021. Like the US, India is for the very rich.
Every business podcast, but it's pitched as a good thing
Post made 11 hours ago
I didn't realize he was still alive. We should get him to do an ama
thanks I hate it
